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20110713
20110713
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of the discussion in these negotiations. chief washington correspondent jim angle looks at how big the gap is between what medicare takes in and what it owes. >> lawmakers of both sides agree that it's unsustainable. a problem raised with the former director of the congressional budget office. >> our understanding is that medicare is insul vent to $60 trillion is that right? >> it's underfunded by any piece of arithmetic. this year, 51% of the cost comes from tax revenue, not premiums paid by seniors, an amount that will soar in coming years. the new healthcare law seeks to cap healthcare spending to measure of inflation. if it goes faster something called the independent payment advisory board or icap would find savings. >> the board is prohibited by law to make recommendations to ration care, reduce benefits, raise premiums or raise cost sharing. >> it would therefore be limited to calling for cuts to providers such as doctors. committee chairman paul ryan knows providers only get # 0% of the rate now, headed to 66% and then half of that. he argues that doctors will just stop treating se
. it would have three big teaches and, again, the details of these -- it would have three big features, and again the details would be outlays need to equal revenues. that is the fundamental definition of a balance. you don't run deficits. you make sure that you spend no more than you take n the sieged thing that some of us feel strongly about and i'm one of them, we ought to limit spending as a percentage of our economy so that the government doesn't keep growing at the expense of the private sector, which is exactly what happens when the government occupies too large a segment of our economy. and finally, we've advocated that we not create a mechanism that simply guarantees big tax increases in order to balance the budget and to do that we would like -- and we have included a supermajority requirement to raise taxes. so that a simple majority wouldn't be enough. it would require a supermajority, which would only occur presumably in truly extraordinary circumstances. see, i believe very strongly that we can have strong economic growth and the job creation that we need. but to get ther
this theater for however long it's been now really pumps it up. i never thought there was going to be a big deficit or debt reduction deal between the two parties because it's not in the interest of either party. i think the republicans were tactically terrible because they allowed obama to sort of portray himself or present himself as the one who is above the fray and who is interested in making the most cuts to the budget and to the debt going forward. and then making it appear, not appear but it's true, the republicans are walking away from a real deal to cut spending in this country. also, it gave obama and the democrats a chance to spotlight the republicans position on taxes. there's no way to get a handle on budget deficits over the long term debt without raising somebody's taxes. >> if this is raising the white flag, if this is going against the base, what is the difference between this and cutting a deal on tax loopholes and other things that would not impact their message overall. what makes this better? >> this is horrible. >> it's stupid. >> it's a nightmare. it's cynical. the se
commitment to big government. what they would like to see is the government sweated down. that's the point they've been trying to make. and there are honest differences and people have a very different view of what kind of society we ought to live in. >> but at a certain point, david, when there was a big deal on the table, and if as you say the president could have brought nancy pelosi along, and i agree with you i think he could have, the republicans would have gotten a great deficit reduction deal if they hadn't committed to the no tax pledge, right? >> but gloria, asking any party to commit to a $1 trillion of tax increases is an awful big lift for a party that is all along stood for lower taxes. and when they also feel a lot of these cuts are going to turn out to be illusory. their experience in the past they sign onto the bargains and they feel the democrats eventually wind up getting what they wanted and what they were promised never materializes. >> but there's a big difference between that and nothing. you know? a big difference. [ overlapping speakers ] >> where do you see the mi
the overpass. >> it is very big and flowy and you don't want to know what i am doing. >>> from big burkas to little jerkas. it seems the kids aren't all right. i love the kinks. a pennsylvania restaurant owner upped the ante with regards to the war on children, and "red eye" salutes this hero. mike vwek, does that sound right? issued an e-mail to the patrons of his eat resaying, quote, beginning july 16th, we will admit children under six years of age. we feel mcdanes is not a place for young women -- young children. their volume -- that's what happens when the tele prompter is above jessica. can't beacon trolled and many times they have disturb etd other customers. >> first of all, i checked out the legality, of course, and i am well within my rights of doing it. i felt as though i may lose some business, but i thought in the long run it would at least be an until neutral situation. >> you haven't seen a downturn in business so far? >> to the contrary. some of the supporters that have called have mentioned that although we are a little far for them to drive in the metropolitan area, they
boehner and president obama are still in contact. they are still working towards an agreement. big stumbling block, taxes still in the way, martin. >> i should explain, mike, that you're inside because there's a lot of rain outside the white house today. >> another major storm, that's right. >> absolutely. >> thanks so much. >> well, now that he's walked out of debt talks with vice president biden, taken a fight to president obama and clashed with speaker boehner, is there any compromise that will sit with house majority leader eric cantor? nbc's luke russert is covering that. republicans, what are they willing to sacrifice in order to reach an agreement? got a copy of the "washington post" which liberally quotes you, but have you been able to get an answer to your question yet? >> reporter: no, and they offer two explanations as to why, martin. number one, they say that a concession republicans are making is just in fact allowing the debt ceiling to go up because that's something that's so unpopular within the house republican caucus. the popular sentiment here in washington, d.c.
. hi honey! ♪ h-o-t-w-i-r-e... ♪ hotwire.com >>> no progress reported tonight on the big deficit reduction talks at the white house. with that, this warning tonight from moody's investor service. the federal government could lose its top of the line credit rating if the white house and congress can't agree on a plan to increase the nation's debt ceiling, meaning allow washington to borrow more money to help pay its bills. that warning came just a few hours after this sober math lesson from the fed chairman ben bernanke. since the government borrows 40 cents of every dollar it spends, a fall you'ilure to increase washington's credit limit would require a 40% cutback in spending. >> significant cuts in social security, medicare, military pay, or some combination of those in order to avoid borrowing more money. >> now that sounds ominous, but some conservatives think the catastrophe scenarios are exaggerated. >> if congress fails to raise the debt ceiling by $2.5 trillion, that somehow the united states will go into default, and we will lose the full faith and credit of the united s
the big picture; you use the government to promote licies. what are the policies to get people to demand more products so that companies can make more products and hire more people d e capit to build more factories? >> there are four things: you invest in infrastructure or other things that the public sector -- that's a kind of stimulous program. >> that's kind of a stim you las and creation of demand, different sides of the same coin. you put more money -- you give people -- you give employees or employers tax relief that puts more money in their pocket so that they spend more. you provide support to parts of the economy that we obvious laying people off on a huge scale that they don't wanto lay off because they have important work to do. and that's why support for state and lol governments is so important. you providenemployment insurance and support for workers who have lost their jobs and who would otherwise set off a spiral by cutting their spending. and you do everything that you can to promote t sale of american products to foreign consumers at a time when foreign economie partic
. russell berman, welcome to the "washington journal." you have the headline here, boehner, a big deal no longer operative. he told house republicans on tuesday -- between what speaker boehner is saying and what minority leader mitch mcconnell is saying, where are the negotiations at this point? guest: the prevailing milled -- mood is pessimism. the negotiations now that the congressional leaders have gone to the white house for three straight days, the of not made a whole lot of progress. each side has retrenched. ideologically, the democrats are leery of making any cuts or changes to entitlement programs without some revenue increases, tax increases. and republicans have been consistently opposed to anything that smacks of tax increases. so you had the mcconnell plan yesterday shaking everything up a bit. it is unclear how viable an option that will be going forward. host: when they get together with the president at the white house this afternoon, what is it that will be on the table? what will they be able to work with on the congressional side and on obama's side? guest: been talk
. the caller's point about big business, which over -- overwhelmingly supported obama in the last election, there was a letter in "the new york times" this morning from business interests, a broad variety, many center-right conservative business interests, beseeching every member of congress, what ever you do, raise the debt ceiling. business is in favor of raising the debt ceiling. the only people that i know that are not in favor of raising the debt ceiling are serious principle conservatives. i am not saying they are right, but as a factual matter all the people who actually control the country are agreed on that one question, we must raise the debt ceiling. host: we are coming to you from the arlington campus. students from 35 different states. high school seniors. studying the media. please go ahead. >> what do you believe will happen when it comes to the debt ceiling debate them of what influence will lead abdon world economic powers? guest: i have a singularly bad track record of predicting events before they happen. i thought hillary clinton would be the democratic nominee, etc., e
Search Results 0 to 20 of about 21 (some duplicates have been removed)

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